Kenmare Resources (LON:KMR) Trading 38% Higher – Here’s What Happened

Kenmare Resources plc (LON:KMR) shares were up 38% on Thursday . The company traded as high as GBX 435 ($5.62) and last traded at GBX 379.50 ($4.91). Approximately 464,112 shares traded hands during mid-day trading, an increase of 304% from the average daily volume of 114,926 shares. The stock had previously closed at GBX 275 ($3.55).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a “hold” rating and issued a GBX 350 ($4.52) price target on shares of Kenmare Resources in a research report on Thursday.

Kenmare Resources Trading Up 3.1 %

The firm has a market capitalization of £444.41 million, a P/E ratio of 5.66, a price-to-earnings-growth ratio of 0.03 and a beta of 0.58. The stock’s 50-day simple moving average is GBX 306.09 and its two-hundred day simple moving average is GBX 327.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.63 and a quick ratio of 1.22.

Kenmare Resources Company Profile

Kenmare Resources plc is an Ireland-based mining company. The Company operates the Moma Titanium Minerals Mine, located on the northeast coast of Mozambique. The Moma Mine contains deposits of heavy minerals, which include the titanium minerals ilmenite and rutile, as well as the zirconium silicate mineral, zircon.